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AP Credit Memo

AP Credit Memos can be entered in Restaurant365 to record any credits that are due. Credit Memos can then be applied to Open AP Invoices.

To record an AP Credit Memo, hover over the ‘Vendor’ menu in the top ribbon and select ‘ Credit Memo’.

AP Credit Memo Header

1) Location - The Location that will appear on the header of the CM. This will default to the User's default Location, but can be changed if needed. Once changed,Once changed, the 'Location' field in the Details grid below will also update to the selected Location. Click here to change a default Location Click here to change a default Location

2) Vendor - The name of the Vendor from which the CM was received. Once selected, the Vendor address will be noted below 'AP Credit Memo' in the top ribbon and any necessary 1099 information from the Vendor record will be listed next to the GL Date. This provides necessary information at a quick glance

Note: Depending on the Vendor Entry method (set on the Vendor record), the details grid will be set to 'Account' or 'Item'. When entering the details by Item, you'll be able to credit back to the exact inventory item if your Vendor has the Entry method set to 'By Item'

3) Credit Number - The Credit Memo number. If no CM Number is available, create one

4) Document Date - The date listed on the CM

5) GL Date - The date the CM posts to the General Ledger

Note: When this date is different than the Document Date, an orange exclamation pointwill appear, bringing attention to the fact that there is a difference between the two dates

6) Amount - The CM Total Amount. Upon entry, an 'Unassigned Amount' warning will appear. This warning will remain until the Amount is equal to the total details amount in the Details grid

7) Comment - An optional field that is useful for adding additional notes about the CM

8) GL Account Selector - Enter the details of the CM starting with the First GL Account

9) Amount - The line item detail amount

10) Comment - The line item detail comment (optional)

11) Location Selector - The line item detail Location (will default to the Location in the header, but can be changed)

12) Start Date of Service - The date that the range of service begins. This is optional and could be used to record the specific date for a refund / credit of service. This will be explained further in the section below

13) End Date of Service - The date that the range of service ends. This is optional and could be used to record the specific date for a refund / credit of service. This will be explained further in the section below

14) Add / Delete Button - This will either add or clear the information from the line. If added, the line will appear in the grid

When finished, save this Credit Memo for Approval.

Dates of Service

Dates of Service allow a User to record expenses and credits in the right period even though the Dates of Service may expand over multiple months. To activate this feature, hover over 'Administration' in the top ribbon and click 'Preferences'.

When the 'System Preferences' window opens, navigate to the 'Miscellaneous' tab, and at the bottom right-hand corner of the header, click 'Display Accrual During AP Entry'. This will enable the Dates of Service appear on the AP Invoice and AP Credit Memo forms.

Dates that are added into an AP Credit Memo can be viewed in the 'Transaction Details' list with two postings made to their GL Accounts and their Start Date and End Dates posted in their respective date columns. These transactions can be exported and used to calculate a User's accrual.

Applying CM to Open AP Invoices

Before Approving the CM, the User has the option of Applying the CM to an Open AP Invoice on the 'Apply' tab. All Open AP Transactions for the selected Vendor will be displayed here.

Check the box on the AP Invoice line in the Apply column to apply the CM to the specified invoice. If the desired checkbox appears grayed out, it is due to the AP Invoice being partially applied to the Credit Memo prior to the invoice being placed on hold. Click here to learn more about Payment Holds.

Now that the CM has been applied, it is ready to be Saved and Approved.